GRAIL Announces $300 Million Raised in Oversubscribed Series C
Financing

May 21, 2018 07:00 PM Eastern Daylight Time

MENLO PARK, Calif. & HONG KONG--(BUSINESS WIRE)--GRAIL, Inc., a healthcare company whose mission is to detect cancer
early, when it can be cured, today announced it has raised USD$300
million in an oversubscribed Series C financing. The financing is led by
Ally Bridge Group, co-led by Hillhouse Capital Group and 6 Dimensions
Capital, and includes Blue Pool Capital, China Merchant Securities
International, CRF Investment, HuangPu River Capital (HPR), ICBC
International, Sequoia Capital China, and WuXi NextCODE.

Since early 2016, GRAIL has raised more than $1.5 billion in three
rounds of equity financing to pursue its vision of transforming the way
cancer is diagnosed and reducing global cancer mortality. The Series C
funding will add to the company’s balance sheet and support ongoing
development and validation of products for the early detection of cancer
in GRAIL’s clinical research program.

“GRAIL has continued to execute at a rapid pace towards its goal of
saving lives through early detection of cancer. We have enrolled more
than 73,000 participants in our population-scale clinical studies, CCGA
and STRIVE, and are on-track to complete enrollment in both studies this
year,” said Jennifer Cook, Chief Executive Officer of GRAIL. “We
recently reported data supporting the potential for development of a
highly specific and sensitive blood test, and are now continuing our
development programs to optimize and validate a product for early
detection of multiple cancer types.”

“We are fortunate to partner with new international investors who share
our vision of delivering early detection products to people globally,”
said Ken Drazan, President of GRAIL. “Many of our new investors have a
focus in Asia, which we believe is a natural fit as we plan to grow our
capabilities and operations in the region, following the planned launch
of our first product for early detection of nasopharyngeal cancer in
Hong Kong this year.”

“We are very impressed with the scientific, clinical, and software
engineering achievements the team at GRAIL has made in just over two
years. Our significant investment in GRAIL aligns well with Ally
Bridge’s strong focus on investing in some of the world’s most
innovative life science technologies and enhancing value-creation across
geographies,” said Frank Yu, Founder and Chief Executive Officer, Ally
Bridge Group.

About GRAIL’s Clinical Research Program

GRAIL is conducting what the company believes to be one of the largest
clinical research programs ever pursued in genomic medicine in
collaboration with leading community and academic medical centers
globally. GRAIL has initiated two large-scale studies to date, which are
designed to characterize the landscape of cancer-defining cell-free
nucleic acid profiles, and to develop and validate blood tests for the
early detection of multiple cancer types. The Circulating Cell-free
Genome Atlas (CCGA) Study is a prospective, observational, longitudinal
study enrolling more than 15,000 people with and without cancer. The
STRIVE Study is a prospective, observational, longitudinal, cohort study
enrolling 120,000 women at the time of their screening mammogram.

About GRAIL

GRAIL is a healthcare company whose mission is to detect cancer early,
when it can be cured. GRAIL is using the power of high-intensity
sequencing, population-scale clinical studies, and state-of-the-art
computer science and data science to enhance the scientific
understanding of cancer biology, and to develop and commercialize
pioneering products for the early detection of cancer. The company is
located in Menlo Park, California and Hong Kong. It is supported by
leading global investors and pharmaceutical, technology, and healthcare
companies. For more information, please visit www.grail.com.